Brit’s Digital Syndicate Ki Taps Hearsum from Marsh JLT Specialty as Managing Director

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Ki, the first fully digital and algorithmically driven Lloyd’s of London syndicate, launched in collaboration with Brit Ltd. and Google Cloud, has announced the appointment of Dan Hearsum as managing director. Hearsum will report into Mark Allan, CEO of Ki.

As Ki progresses towards launch in 2021, Hearsum will play a critical role in the management of Ki as it fulfills its ambition to redefine the commercial insurance market. Hearsum will lead Ki’s commercial strategy, deliver its underwriting plan and drive Ki’s relationships with key trading partners.

Hearsum joins Ki from Marsh JLT Specialty and has over 20 years of experience in the insurance industry, including in fostering digital transformation, having led the UK Specialty digital strategy at Marsh JLT Specialty, in addition to his role as head of Placement for the Specialty business in the UK. Prior to Marsh, Hearsum was at Willis and started his career at C.E. Heath.

“Dan’s commercial experience and market relationships, combined with his track record in fostering digital change, means he’s perfectly placed to play an important leadership role at Ki,” commented Mark Allan, group CEO of Ki.

“We have been clear of our ambition for Ki to play a central role in redefining the commercial insurance market and bringing a new age of innovation and efficiency. Building out a strong team is crucial if we are to deliver this and I look forward to working closely with him as we move towards our launch,” said Allan.

The creation of Ki was first announced in May 2020. Ki will aim to significantly reduce the amount of time taken for brokers to place their follow capacity. Ki’s algorithm, developed with support from University College London, will evaluate Lloyd’s policies and automatically quote for business through an always available digital platform accessed directly by brokers.

Ki is managed by Brit Syndicates Ltd. It will write follow-only business written by Brit or other “nominated” syndicates. Ki was incubated by BritX, Brit’s innovation team, working in collaboration with Google Cloud.

Brit has a major presence in Lloyd’s of London, with significant U.S. and international reach. A subsidiary of Fairfax Financial Holdings Ltd., Brit underwrites a broad class of commercial specialty insurance with a strong focus on property, casualty and energy business.